Artis Real Estate Investment Trust Unit (TSE:AX.UN) Stock Passes Below 200 Day Moving Average of $12.02

Shares of Artis Real Estate Investment Trust Unit (TSE:AX.UN) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.02 and traded as low as $11.73. Artis Real Estate Investment Trust Unit shares last traded at $11.76, with a volume of 110,006 shares.

A number of research analysts have recently commented on AX.UN shares. Royal Bank of Canada increased their target price on shares of Artis Real Estate Investment Trust Unit from C$13.00 to C$13.50 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Raymond James set a C$13.00 target price on shares of Artis Real Estate Investment Trust Unit and gave the stock a “market perform” rating in a report on Wednesday, November 6th. CIBC increased their target price on shares of Artis Real Estate Investment Trust Unit from C$12.50 to C$13.00 in a report on Tuesday, November 5th. Finally, Canaccord Genuity increased their target price on shares of Artis Real Estate Investment Trust Unit from C$12.50 to C$13.00 in a report on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Artis Real Estate Investment Trust Unit currently has an average rating of “Hold” and an average target price of C$13.06.

The business’s fifty day moving average is C$11.99 and its 200-day moving average is C$12.02. The firm has a market cap of $1.62 billion and a P/E ratio of 22.77. The company has a debt-to-equity ratio of 112.91, a quick ratio of 0.10 and a current ratio of 0.55.

The company also recently announced a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 13th will be given a dividend of $0.045 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Thursday, November 28th. Artis Real Estate Investment Trust Unit’s dividend payout ratio is presently 104.45%.

About Artis Real Estate Investment Trust Unit (TSE:AX.UN)

Artis is a diversified Canadian real estate investment trust investing in office, retail and industrial properties. Since 2004, Artis has executed an aggressive but disciplined growth strategy, building a portfolio of commercial properties in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and select markets in the United States.

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